Illinois Senate Bill 242

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Spectrum: Partisan Bill (Democrat 1-0)
Status: Introduced on January 22 2025 - 25% progression
Action: 2025-02-25 - Senate Committee Amendment No. 1 Referred to Assignments
Pending: Senate Pensions Committee
Text: Latest bill text (Introduced) [HTML]

Amends the General Provisions and State Employees Articles of the Illinois Pension Code. Provides that a Tier 2 participant who is employed as an investigator for the Secretary of State or as a conservation police officer on the effective date of the amendatory Act, has accrued not less than 10 years of credit for such service, and has attained age 60 shall be entitled to an annuity calculated under the alternative retirement annuity provisions of the State Employees Article, in lieu of a regular or minimum retirement annuity, notwithstanding that he or she has accrued less than 20 years of eligible creditable service. Provides that any benefit increase that results from the amendatory Act is excluded from the definition of "new benefit increase". Makes conforming changes. Effective immediately.

PEN CD-SERS-TIER 2

Sen. Michael Halpin [D]

Date	Chamber	Action
2025-02-25	Senate	Senate Committee Amendment No. 1 Referred to Assignments
2025-02-25	Senate	Senate Committee Amendment No. 1 Filed with Secretary by Sen. Michael W. Halpin
2025-01-28	Senate	Assigned to Pensions
2025-01-22	Senate	Referred to Assignments
2025-01-22	Senate	First Reading
2025-01-22	Senate	Filed with Secretary by Sen. Michael W. Halpin

Chapter	Article	Section	Citation Type	Statute Text
40	5	1-160	Amended Code	Citation Text
40	5	14-152.1	Amended Code	Citation Text

Type	Source
Summary	https://www.ilga.gov/legislation/BillStatus.asp?DocNum=242&GAID=18&DocTypeID=SB&SessionID=114&GA=104
Text	https://www.ilga.gov/legislation/104/SB/10400SB0242.htm
Amendment	https://www.ilga.gov/legislation/104/SB/10400SB0242sam001.htm